XML 24 R10.htm IDEA: XBRL DOCUMENT v3.22.4
Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Operating activities      
Net income (loss) $ 1,182,701 $ 898,790 $ (29,102)
Net loss from discontinued operations 0 0 (192,497)
Net income from continuing operations 1,182,701 898,790 163,395
Adjustments to reconcile net income from continuing operations to net cash provided by operating activities:      
Depreciation and amortization 347,819 290,971 272,842
Deferred income taxes 2,220 31,676 (27,722)
Share-based compensation 38,058 25,597 22,621
Gain on sale of real estate (102,803) 0 0
Goodwill impairment charge 0 0 506,721
Other operating activities 18,377 22,575 23,248
Changes in operating assets and liabilities:      
Trade accounts receivable, net (244,371) (258,994) 957,514
Merchandise inventories, net (380,420) (329,237) 58,462
Trade accounts payable 676,406 777,318 89,350
Other assets and liabilities (71,016) (200,411) (51,909)
Net cash provided by operating activities from continuing operations 1,466,971 1,258,285 2,014,522
Investing activities:      
Purchases of property, plant and equipment (339,632) (266,136) (153,502)
Proceeds from sale of property, plant and equipment 145,007 26,549 18,064
Proceeds from divestitures of businesses 33,604 17,738 387,379
Proceeds from settlement of net investment hedge 158,441 0 0
Acquisitions and other investing activities (1,681,660) (284,315) (69,173)
Net cash (used in) provided by investing activities from continuing operations (1,684,240) (506,164) 182,768
Financing activities:      
Proceeds from debt 5,108,641 892,694 2,638,014
Payments on debt (4,147,773) (1,053,423) (3,533,017)
Share-based awards exercised (17,377) (22,346) (4,120)
Dividends paid (495,917) (465,649) (453,277)
Purchase of stock (222,726) (333,599) (96,215)
Other financing activities (19,747) (7,209) (65,150)
Net cash provided by (used in) financing activities from continuing operations 205,101 (989,532) (1,513,765)
Cash flows from discontinued operations:      
Net cash flows provided by operating activities from discontinued operations 0 0 5,039
Net cash used in investing activities from discontinued operations 0 0 (11,131)
Net cash provided by financing activities from discontinued operations 0 0 0
Net cash (used in) provided by discontinued operations 0 0 (6,092)
Effect of exchange rate changes on cash and cash equivalents (49,070) (38,054) 35,741
Net (decrease) increase in cash and cash equivalents (61,238) (275,465) 713,174
Cash and cash equivalents at beginning of year 714,701 990,166 276,992
Cash and cash equivalents at end of year 653,463 714,701 990,166
Supplemental disclosures of cash flow information      
Income taxes 362,859 305,326 223,019
Interest $ 73,368 $ 65,732 $ 91,344